Q1 2018 EPS Estimates for CarMax, Inc Lowered by Analyst (KMX)

CarMax, Inc (NYSE:KMX) – Analysts at William Blair decreased their Q1 2018 earnings per share (EPS) estimates for CarMax in a research note issued on Monday, according to Zacks Investment Research. William Blair analyst S. Zackfia now forecasts that the company will earn $1.01 per share for the quarter, down from their prior estimate of $1.04. William Blair also issued estimates for CarMax’s Q3 2018 earnings at $0.77 EPS, Q4 2018 earnings at $0.83 EPS and FY2018 earnings at $3.53 EPS.

A number of other equities research analysts have also weighed in on KMX. Oppenheimer Holdings Inc. set a $72.00 price objective on shares of CarMax and gave the company a “buy” rating in a report on Friday. Credit Suisse Group AG set a $75.00 price objective on shares of CarMax and gave the company a “buy” rating in a report on Sunday, December 25th. Susquehanna Bancshares Inc set a $70.00 price target on shares of CarMax and gave the stock a “buy” rating in a research note on Friday, April 7th. Wedbush reiterated a “hold” rating on shares of CarMax in a research note on Saturday, April 8th. Finally, Royal Bank of Canada cut their price target on shares of CarMax from $71.00 to $63.00 and set a “sector perform” rating on the stock in a research note on Friday, April 7th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. CarMax presently has a consensus rating of “Buy” and a consensus target price of $66.17.

Earnings History and Estimates for CarMax (NYSE:KMX)

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Shares of CarMax (NYSE:KMX) traded down 0.83% on Thursday, hitting $58.31. The company’s stock had a trading volume of 2,821,182 shares. CarMax has a one year low of $45.06 and a one year high of $69.11. The firm has a market cap of $10.88 billion, a price-to-earnings ratio of 17.89 and a beta of 1.34. The stock has a 50-day moving average price of $60.03 and a 200 day moving average price of $60.15.

CarMax (NYSE:KMX) last announced its earnings results on Thursday, April 6th. The company reported $0.81 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.02. CarMax had a return on equity of 21.02% and a net margin of 3.96%. The business earned $4.05 billion during the quarter, compared to analyst estimates of $3.94 billion. During the same quarter in the previous year, the business earned $0.74 earnings per share. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year.

In other CarMax news, SVP Jon G. Daniels sold 20,000 shares of CarMax stock in a transaction dated Thursday, January 26th. The shares were sold at an average price of $68.72, for a total transaction of $1,374,400.00. Following the completion of the transaction, the senior vice president now owns 31,787 shares in the company, valued at $2,184,402.64. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO William C. Jr. Wood sold 6,203 shares of CarMax stock in a transaction dated Tuesday, January 31st. The stock was sold at an average price of $66.24, for a total transaction of $410,886.72. Following the transaction, the chief operating officer now owns 55,096 shares of the company’s stock, valued at approximately $3,649,559.04. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.

Several institutional investors have recently bought and sold shares of KMX. Ruane Cunniff & Goldfarb Inc. raised its position in CarMax by 66.6% in the fourth quarter. Ruane Cunniff & Goldfarb Inc. now owns 10,052,354 shares of the company’s stock worth $647,271,000 after buying an additional 4,019,237 shares in the last quarter. Principal Financial Group Inc. raised its position in CarMax by 5.8% in the third quarter. Principal Financial Group Inc. now owns 8,437,182 shares of the company’s stock worth $450,124,000 after buying an additional 462,424 shares in the last quarter. State Street Corp raised its position in CarMax by 3.5% in the fourth quarter. State Street Corp now owns 7,987,810 shares of the company’s stock worth $514,329,000 after buying an additional 270,592 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in CarMax by 0.4% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 4,952,641 shares of the company’s stock worth $264,223,000 after buying an additional 19,385 shares in the last quarter. Finally, The Manufacturers Life Insurance Company bought a new position in shares of CarMax during the third quarter valued at approximately $223,614,000.

About CarMax

CarMax, Inc (CarMax) is a holding company. The Company is a retailer of used vehicles. The Company operates through two segments: CarMax Sales Operations and CarMax Auto Finance (CAF). The Company’s CarMax Sales Operations segment consists of all aspects of its auto merchandising and service operations, excluding financing provided by CAF.

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